Home PC News VGames raises $30 million for game-focused investment fund in Israel

VGames raises $30 million for game-focused investment fund in Israel

Find all of the Transform 2020 classes on-demand. 


VGames has raised greater than $30 million for its game-focused funding fund primarily based in Israel. It’s certainly one of dozens of enterprise capital and funding funds which have been drawn to the sport business lately.

Eitan Reisel, the previous head of video games at Google Tel Aviv, began the primary game-focused fund in Israel. In an interview with GamesBeat, Reisel stated he has already made 4 investments in the previous few months and is within the technique of finalizing the entire fund quantity.

The fund will make investments largely in sport studios in Israel and Eastern Europe, backing gifted entrepreneurs early on and supporting them as they develop. Reisel stated that the fund is backed by a mixture of native and world restricted companions who’re energetic gamers within the video games ecosystem. Right now, about 30 firms are investing in video games, however Reisel stated he hasn’t discovered a games-only fund in Israel.

“Israel has become a very interesting market for game companies, with Playtika and Plarium,” Reisel stated. “There’s a whole new generation coming up. The venture model is growing elsewhere, so why should we not have a dedicated fund in Israel? I started doing some angel investments in this space, and I very quickly understood that the right model would be to do a fund. I saw all the funds in the U.S., Europe, and Asia, and I saw no reason why we don’t have the same vehicles here.”

Reisel has 10 years of expertise within the sport business and has labored with world publishers to help development, monetization, advertising and marketing, and mergers and acquisitions. He stated that Israel and Eastern Europe are key geographies for sport studios, with 2020 projected revenues of billions of {dollars} every, primarily based on App Annie analysis and Reisel’s personal estimates. Israel has had success tales in video games akin to Playtika, Plarium, Moonactive, IronSource, Crazy Labs, and lots of extra.

Above: Eitan Reisel is managing director at VGames.

Image Credit: VGames

Eastern Europe, in the meantime, is house to 1000’s of each new and mature sport studios akin to Huuuge Games, Ten Square Games, Nordeus, Vizor, Pixel Federation, Outfit7, and lots of extra. Both areas are robust in informal video games, and Reisel stated he’s excited in regards to the emergence of hypercasual video games, that are ad-supported and give attention to gameplay classes of a minute or much less.

“Casual is where we are stronger,” he stated. “I’d love to see triple-A and more core games and cross-platform games come out of here, but that’s something that we’re gonna have to nurture, because we don’t have big companies in that space yet.”

With the outbreak of COVID-19, the video games market has turn into much more engaging and in style, rising over 60% in playtime globally.

Reisel stated he began elevating the fund about 10 months in the past. The fund has already invested in 4 sport studios, amongst them InnPlay Labs and Brain Games, the developer of Save the Hay: Word Adventure. Both groups have huge expertise, with founders having labored at main sport firms.

VGames’ anchor restricted associate is Viola Ventures, an Israeli enterprise fund. Leading this initiative is Viola Ventures basic associate Danny Cohen, whose experience lies within the B2C and client house. Reisel is the managing director and he stated a principal will take part September.

Sign up for Funding Weekly to begin your week with VB’s prime funding tales.

Most Popular

AI Weekly: Amazon went wide with Alexa; now it’s going deep

Amazon’s naked ambition to become part of everyone’s daily lives was on full display this week at its annual hardware event. It announced a...

Mass Effect remasters pushed into 2021 and Xbox buys Bethesda | GB Decides 165

Mass Effect: Legendary Edition is still coming, but not in 2020. GamesBeat reviews editor Mike Minotti and editor Jeff Grubb talk...

Allen Institute researchers find pervasive toxicity in popular language models

Researchers at the Allen Institute for AI have created a data set — RealToxicityPrompts — that attempts to elicit racist, sexist, or otherwise toxic...

Mass Effect: Legendary Edition is still coming — but not this year

Electronic Arts still hasn’t revealed Mass Effect: Legendary Edition, and that’s for a reason. The publisher originally planned to launch the...

Recent Comments